Although we have seen a slowdown in the market, it is more geared towards the luxury homes. It is possible that with the new 15% tax, foreign investors are now more interested lower priced homes such as condos and townhouses. According to Juwai, interest in homes under $1,000,000 have increased. Since it has still only been a little while since the 15% tax was introduced, we will still have to wait and see what the market will turn into.
Read more on this article here.